Board member views on strategy and risk oversight have shifted to a longer-term orientation with emphasis on evaluating macro-trends as part of their strategic review, according to PwC’s recent Annual Corporate Directors Survey. However, Board members are being pressured to balance longer-term strategic planning and investment with the need to meet short-term investor expectations.
Additional key findings from the recent survey includes:
- Directors are becoming more involved in crisis management oversight and are taking measures to deter fraud.
- 58 percent of directors’ time horizon for review of a company’s strategy is greater than five years.
- 76 percent of directors look at long-term, economic, geopolitical and environmental macro-trends when evaluating strategy.
- 93 percent of directors at least “somewhat” agree that their company’s hiring, retention and incentive programs support a robust talent pipeline.
- Directors continue to take actions to reduce fraud risk, and 68 percent of directors say their Boards had such discussions about “tone at the top.”
Read the full report here.
